World’s largest retailer discovers “new normal” in consumer behaviour
The world’s largest grocer and retailer, Walmart, has seen profits rise despite the advent of a “new normal” in shopper behaviour that kept sales flat.
Sales fell 1.4 per cent, with CEO Mike Duke implying that consumers were unlikely to revert to their previous spending habits.
“Overall, our customers are more disciplined in their spending,” he noted, supporting numerous similar observations from other leading supermarket operators around the globe. “There’s a “new normal” now where people are saving more, consuming less, and being more frugal and thoughtful in their purchases.”
“Customers are shopping smarter. They want quality products that are cost-effective, sustainable and provide real value.”